Sunrun Prices Securitization Of Leases And Power Purchase Agreements
Portfolio Pulse from Benzinga Newsdesk
Sunrun has priced a securitization of leases and power purchase agreements, involving two tranches of A+ rated notes and a single class of BB rated notes. The $443.15 million Class A-1 notes were marketed publicly, while the $443.15 million Class A-2 notes were privately placed, both with a coupon of 6.25%.
June 04, 2024 | 9:44 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Sunrun has successfully priced a securitization of leases and power purchase agreements, raising $886.3 million through A+ rated notes with a 6.25% coupon. This move is likely to improve liquidity and financial stability.
The successful pricing of the securitization indicates strong investor confidence and provides Sunrun with significant liquidity. The A+ rating and 6.25% coupon are favorable terms, suggesting a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100